Longeveron Inc. (NASDAQ:LGVN) Short Interest Update

Longeveron Inc. (NASDAQ:LGVN) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,970,000 shares, a growth of 5,290.2% from the May 31st total of 55,100 shares. Currently, 67.4% of the company’s shares are short sold. Based on an average trading volume of 8,250,000 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Longeveron in a research note on Friday, May 17th.

Longeveron Trading Down 4.2 %

NASDAQ LGVN traded down $0.07 on Friday, hitting $1.61. 751,568 shares of the company were exchanged, compared to its average volume of 19,945,396. The company has a market cap of $10.22 million, a PE ratio of -0.17 and a beta of 0.33. The stock has a fifty day moving average of $1.57 and a 200-day moving average of $5.48. Longeveron has a 12 month low of $0.77 and a 12 month high of $37.50.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($1.61) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.40. The firm had revenue of $0.55 million for the quarter, compared to analyst estimates of $0.12 million. Longeveron had a negative net margin of 2,129.24% and a negative return on equity of 300.96%. During the same quarter in the prior year, the business earned ($2.20) earnings per share. On average, analysts expect that Longeveron will post -3.87 earnings per share for the current year.

Insider Transactions at Longeveron

In related news, Director Rock Soffer bought 31,915 shares of Longeveron stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $2.35 per share, for a total transaction of $75,000.25. Following the completion of the acquisition, the director now directly owns 208,534 shares of the company’s stock, valued at approximately $490,054.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Longeveron news, insider Joshua Hare acquired 106,383 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $2.35 per share, with a total value of $250,000.05. Following the transaction, the insider now owns 590,727 shares in the company, valued at approximately $1,388,208.45. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Rock Soffer bought 31,915 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $2.35 per share, for a total transaction of $75,000.25. Following the transaction, the director now owns 208,534 shares in the company, valued at $490,054.90. The disclosure for this purchase can be found here. Insiders purchased 148,936 shares of company stock worth $350,000 over the last ninety days. 19.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC bought a new position in shares of Longeveron Inc. (NASDAQ:LGVN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned 7.31% of Longeveron as of its most recent SEC filing. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Company Profile

Longeveron Inc, a clinical stage biotechnology company, develops cellular therapies for aging-related and life-threatening conditions in the United States and Japan. The company's lead investigational product is the LOMECEL-B, an allogeneic mesenchymal stem cell formulation sourced from the bone marrow of young and healthy adult donors.